Palais Bulimba - 25-27 Byron Street, Bulimba

Brisbane's supercharged property market is continuing its bull run in 2024.

If it wasn't for Perth, Brisbane would be the best performing capital city unit market in the country.&nbsp;

CoreLogic's Monthly Hedonic Index showed the value of Brisbane units, which incorporates both apartments and townhouses, rose 1.9 per cent in July.&nbsp;

So far in 2024, units in Brisbane are now 12.8 per cent higher than they started the year, taking the median value from $561,000 to $638,000, surpassing Melbourne and Canberra to become the second most expensive capital city unit market in the country.

CoreLogic Research Director, Tim Lawless, said available supply is a key factor explaining the diverse outcomes in housing growth trends.

“The number of homes for sale in Brisbane, Adelaide and Perth is more than 30 per cent below average for this time of the year, while weaker markets like Melbourne and Hobart are recording advertised supply well above average levels,” Lawless said.

<h2>What happened in Brisbane’s off the plan apartment market in July</h2>

<a href="https://www.urban.com.au/developers/sekisui-house-australia" target="">Sekisui House</a>&nbsp;Australia secured a $5.25 million sale of a penthouse atop Altura, one of its buildings in its $1 billion&nbsp;<a href="https://www.urban.com.au/developments/west-end-qld-4101">West End</a> masterplan, West Village.

They've seen a 'reverse sea changer' trend at&nbsp;<a href="https://www.urban.com.au/new-apartments/the-allere-collection-west-village-mollison-street-west-end">West Village</a>, which is approaching its final tower release. The buyers,&nbsp;business owners Leo Nipperess and partner Brett Park, are coming from a large home on Sovereign Island.

Nipperess and Park were drawn to the expansive 368 sqm layout complete with multiple living and entertaining zones, five bedrooms, four bathrooms and multiple balconies, only 800m from the Brisbane CBD.

[smartcode_project:default project_id=114215 project_image_fid=257538]

West End is also set for some more future supply with builder-developer Zen Group planning two&nbsp;"climate-responsive and contextually driven" apartment towers at <a href="https://www.urban.com.au/new-apartments/24-duncan-street-west-end">24 Duncan Street</a>, near Montague Markets.

The towers will home just over 200 apartments.

<img alt="West End set for climate-responsive apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_900,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Duncan%20Street.png?VersionId=.A9VkekWac99LJ7L8mqewo7AAsg4Vwb_" />

The vision aligns with Brisbane's goal to become a New World City by 2031, promoting a globally recognisable subtropical urban lifestyle.

Duncan Street will comprise two 17-level buildings housing 202 apartments, from one-bedroom plus study apartments through to three-bedroom units.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/west-end-set-for-climate-responsive-apartments">West End set for climate-responsive apartments</a>

The riverside has been where it's at in July. Across the Brisbane River in St Lucia, developer <a href="https://www.urban.com.au/developers/dusk-group">Dusk Group</a>&nbsp;has found a gap in the market with its latest project,&nbsp;<a href="https://www.urban.com.au/new-townhouses/aurora-on-depper-st-lucia-68-72-depper-street-st-lucia">Aurora on Depper</a>.

Aurora on Depper presents an attractive opportunity, considering the scarcity of townhouses in the suburb and the competitive starting price of $1.55 million.

The townhouses,&nbsp;currently under construction by Akam Constructions, feature three bedrooms, a two-car garage, kitchens with zero silica benchtops and butler's pantries, and hybrid timber flooring throughout the living areas.

The townhouses are expected to complete by mid-2025.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/aurora-on-depper-townhouses-to-target-st-lucias-missing-middle">Aurora on Depper townhouses to target St Lucia's "missing middle"</a>

[smartcode_project:default project_id=139032 project_image_fid=232287]

The <a href="https://www.urban.com.au/developments/bulimba-qld-4171">Bulimba</a> riverfront is also set for a new collection of apartments. Architect-turned-developer&nbsp;<a href="https://www.urban.com.au/architects/joe-adsett-architects" target="">Joe Adsett</a>&nbsp;is teaming up with developer Zephyr Group QLD for Palais Bulimba at&nbsp;<a href="https://www.urban.com.au/new-apartments/25-27-byron-street-bulimba">25-27 Byron Street</a>.

Adsett has designed the two buildings that will home just 13 luxury apartments, focused on taking advantage of the 30 metres of absolute river frontage, connecting residents to nature and views with river-facing balconies.&nbsp;

&nbsp;

<img alt="First look exclusive: Joe Adsett partners with Zephyr Group for luxury Bulimba apartment development, Palais Bulimba" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_900,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-07-26%20at%2012.03.10%E2%80%AFPM.png?VersionId=fqJQZmCijuLhkR7A1hYV8JBIaOmOrqZe" />

Adsett is expecting Palais Bulimba to attract significant interest from both local and interstate buyers. Construction is slated to commence later this year, with completion expected in mid-2026.

Read more:&nbsp;First look exclusive: <a href="https://www.urban.com.au/news/qld/first-look-exclusive-joe-adsett-partners-with-zephyr-group-for-luxury-bulimba-apartment-development-palais-bulimba">Joe Adsett partners with Zephyr Group for luxury Bulimba apartment development, Palais Bulimba</a>

The only true tower development to launch in 2023,&nbsp;Ruby Ruby&nbsp;in the riverside suburb of <a href="https://www.urban.com.au/developments/milton-qld-4064">Milton</a>, got a little bigger in July.

National developer&nbsp;<a href="https://www.urban.com.au/developers/kokoda-property" target="">Kokoda Property</a>&nbsp;was given the green light to add another four levels to the Crombie Street tower. The enhanced scheme will see a further 34 apartments added

<a href="https://www.urban.com.au/new-apartments/ruby-ruby-12-crombie-street-milton" target="">Ruby Ruby</a>&nbsp;now comprises 178 apartments across a 26-level building designed by&nbsp;<a href="https://www.urban.com.au/architects/cottee-parker-architects">Cottee Parker</a>.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/kokoda-adds-more-apartments-to-ruby-ruby-in-milton">Kokoda adds more apartments to Ruby Ruby in Milton</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-july-2024-brisbane-units-on-course-for-20-per-cent-gains-in-2024">City Beat July 2024: Brisbane units on course for 20 per cent gains in 2024</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-june-2024-brisbane-overtakes-canberra-as-australias-second-most-expensive-capital">City Beat June 2024: Brisbane overtakes Canberra as Australia's second most expensive capital</a>

[smartcode_project_cta:default project_id=139032]

CoreLogic Research Director, Tim Lawless, said available supply is a key factor explaining the diverse outcomes in housing growth trends

Joel Robinson

City Beat August 2024: Brisbane property boom continues

Architect turned developer Joe Adsett is teaming up with developer Zephyr Group QLD for Palais Bulimba, a boutique collection of high-end apartments on the Brisbane River.

The duo has just filed a minor-change application for the project on a prime 1,991 sqm site at <a href="https://www.urban.com.au/new-apartments/25-27-byron-street-bulimba">25-27 Byron Street</a>.

Adsett has designed the two buildings that will home just 13 luxury apartments, each offering expansive living areas, state-of-the-art kitchens and premium fixtures and fittings. Residents will also have access to a communal rooftop terrace with a lap pool, gym, sauna, and private gardens.

Adsett's design focused on taking advantage of the 30 metres of absolute river frontage, connecting residents to nature and views with river-facing balconies.&nbsp;

&nbsp;

Adsett is expecting Palais Bulimba to attract significant interest from both local and interstate buyers. Construction is slated to commence later this year, with completion expected in mid-2026.

<img alt="Palais" data-entity-type="file" data-entity-uuid="b2e59fe5-274a-4ff1-8855-3e85329fee14" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-07-26%20at%2012.03.30%E2%80%AFPM.png?VersionId=S8yAXZZQp.iwL7z1EAHx2.7O9sIJqxMv" />

Adsett and his team will be designing, managing the sales and development in partnership with developer Zephyr Group Qld, who will also build the project internally through their building division Zephyr Build.

"We are thrilled to have teamed up with Joe Adsett for this iconic project," said Zephyr Group Qld Managing Director Shane Winterton.

"Joe Adsett's vision for Palais Bulimba blends minimalist luxury in perfect harmony and is set to become a new icon in Bulimba."

&nbsp;

Zephyr Group Qld and subsidiary Zephyr Build Qld are a seasoned builder-developer with a proven track record spanning over a decade.

Adsett is one of Brisbane's most well-known architects. Since turning his eye to development, he's delivering <a href="https://www.urban.com.au/new-apartments/rockpool-rainbow-bay-154-156-marine-parade-coolangatta">Rockpool at Rainbow Bay</a> and <a href="https://www.urban.com.au/new-apartments/lagune-by-joe-adsett-20-queen-of-colonies-parade-moffat-beach">Lagune at Moffat Beach</a>.

Adsett is expecting Palais Bulimba to attract significant interest from both local and interstate buyers

First look exclusive: Joe Adsett partners with Zephyr Group for luxury Bulimba apartment development, Palais Bulimba

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Around $8 million has been paid for a yet to be constructed Hamilton Hill home.

The home will be built by GRAYA on a 470 sqm block that cost $1.94 million earlier this year.

The 7 Prospect Terrace holding had been held for four decades by the prior owners.

Larc will be a six bedroom, six bathroom home with five car parking, plus its own gym, pool and cellar.

The design is by Joe Adsett Architects.

Matt Lanchashire at Ray White had the off the plan listing in conjunction with Josh &amp; Ruby Property's Josh Brown and Ruby Kiriyama-Brown.

Larc is located next door to Noir (below) that recently sold for just over $9.4 million to an expat as it was finished being built.

Noir was delivered by Zephyr Industries, spanning five storeys with 1,050 sqm of living space.

<img alt="" height="1589" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/noir_hamilton.jpg" width="2000">

The five bedroom, eight bathroom manse holds river and city views from every level.

Situated at 9 Prospect Terrace, Hamilton Hill, Ray White agent Matt Lancashire held the listing which was designed by The Artificial and built by Braydon Larkin.

The property is described in the marketing material as "rivalling prestige homes in the international market," from the eight-car basement to a private master level.

The brand new Hamilton Hill residence features, swimming pool, spa, gym, sauna, office &amp; cinema, a recreation level with bar, kitchenette &amp; BBQ, four external balconies and top of the line security measures including facial and fingerprint scanning.

Graya have another two iconic projects in the early stages on Hamilton Hill.

Graya managing director Rob Gray told The Courier Mail that buying a house off-the-plan and being able to customise the design was becoming increasingly popular among wealthy buyers.
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Around $8 million has been paid for a yet to be constructed Hamilton Hill home

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